Maersk and CMA CGM reach cooperation! The central bank responds to "RMB depreciation", Guangdong's foreign trade growth turns from negative to positive | Foreign Trade News Express

Maersk and CMA CGM reach cooperation!

 

The EU will officially launch the Emissions Trading System (ETS) on January 1, 2024. The world’s two largest shipping giants, Maersk and CMA CGM, recently announced:

Take joint action to accelerate decarbonization of shipping!

 

A "Global Shipping Decarbonization Alliance" formed by Maersk and France's CMA CGM has officially surfaced!

 

Yesterday, Maersk announced that, on the premise of fully complying with relevant laws and regulations, AP Moller-Maersk (Maersk) and France's CMA CGM Group (CMA CGM) have decided to join forces to strengthen cooperation in areas related to decarbonization.

As leaders in the shipping industry’s energy transition, both parties believe that joint action will help accelerate the shipping industry’s green transformation and that only by learning from each other can they go faster and further.

CMA CGM and Maersk have each taken ambitious steps to advance shipping’s decarbonization by setting a net-zero emissions target for their shipping operations and identifying scalable solutions that can have an impact this decade.

Maersk has ordered ships that can be powered by biomass/electricity-generated methanol, while CMA CGM has ordered liquefied natural gas (LNG) powered ships. These ships can also use the green product corresponding to LNG, namely biomass/electricity-generated methane. CMA CGM has also ordered container ships that can be powered by biomass/electricity-generated methanol.

These two fuel categories are the most mature solutions available, but both parties expect that other fuels developed later will be added to the marine fuel portfolio in the future.

The two sides will strengthen cooperation and jointly develop alternative green fuels for container ships. The cooperation includes:

Develop high-standard, sustainable alternative green fuels, including relevant greenhouse gas and life cycle analysis, and assist in setting a framework for large-scale production of green methane and green methanol;

Develop and maintain operational standards for green methanol vessels in terms of safety and bunkering, and accelerate the readiness of major ports around the world for biomass/electrical methanol bunkering and supply;

Continue to explore joint research and development of other net-zero emission solutions, such as new alternative fuels such as ammonia, or innovative technologies for ships.

 

 

CMA CGM and Maersk confirm that they plan to work with relevant regulators and invite other shipping companies interested in participating to jointly promote the establishment of a strong and sustainable international greenhouse gas regulatory framework.

From a company’s perspective, establishing such a framework is a prerequisite for reducing carbon emissions in the shipping industry and ensuring a level playing field for global business competition.

Rodolphe Saadé, Chairman and CEO of CMA CGM, said: “This partnership with Maersk is a milestone in the decarbonization of the shipping industry.

By combining the expertise and skills of two shipping leaders, we will accelerate the development of new solutions and technologies to help the shipping industry achieve its CO2 reduction targets. We look forward to other companies joining us.”

 

 

The central bank responded to the "RMB depreciation"

 

Zou Lan, Director of the Monetary Policy Department of the People's Bank of China, said on the 20th:The RMB exchange rate against the US dollar is very important, but it is not the whole of the RMB exchange rate. The RMB exchange rate against a basket of currencies can more comprehensively reflect changes in currency value.

 

Zou Lan introduced at the State Council's regular policy briefing held on the same day that exchange rate fluctuations are mainly used to regulate trade and investment in the real economy. Trade and investment are multilateral, involving multiple countries and multiple currencies. Therefore, the change of RMB against a basket of currencies can more comprehensively reflect the impact of exchange rates on trade, investment and international balance of payments. On September 15, the RMB exchange rate index was 98.51, up 1.8% from the end of June.Among them, the RMB appreciated by 2.5% against the euro and 4.1% against the yen.

 

Recently, various policies to stabilize the economy have been implemented one after another, and more positive changes have occurred in the operation of the macro economy. Zou Lan believes that as my country's economy continues to stabilize and improve, there is a solid foundation for the RMB exchange rate to remain basically stable at a reasonable and balanced level.In the process of responding to multiple rounds of external shocks, the People's Bank of China and the State Administration of Foreign Exchange have also accumulated rich experience in response and have sufficient reserves of policy tools. They have the ability, confidence and conditions to maintain the smooth operation of the foreign exchange market.

 

Zou Lan said that in the next stage, the People's Bank of China and the State Administration of Foreign Exchange will aim to maintain the basic stability of the RMB exchange rate at a reasonable and balanced level, take a long-term perspective, start from the present, adopt comprehensive measures, correct deviations, stabilize expectations, and resolutely correct unilateral and pro-cyclical behaviors.We will resolutely deal with any behavior that disrupts market order and resolutely guard against the risk of exchange rate overshooting.

 

 

Guangdong's foreign trade growth turned from negative to positive in the first eight months

 

The Guangdong Branch of the General Administration of Customs has recently learned that from January to August this year, Guangdong's foreign trade growth rate turned from negative to positive, and the scale of imports and exports hit a new historical high for the same period, playing the role of "pillar" and "ballast stone" in stabilizing the overall foreign trade in the country.

 

Data shows that in the first eight months of this year, Guangdong's foreign trade imports and exports totaled 5.29 trillion yuan, up 0.2% year-on-year, achieving positive growth. Among them, exports totaled 3.49 trillion yuan, up 4.3%; imports totaled 1.8 trillion yuan, down 7%.

 

Among them, the growth in August alone exceeded 10%. In August alone, Guangdong's foreign trade imports and exports reached 744.69 billion yuan, an increase of 10.2%. Both exports and imports maintained positive growth - exports reached 499.66 billion yuan, an increase of 14.6%; imports reached 245.03 billion yuan, an increase of 2.2%.

 

 

From a regional perspective, Guangdong has achieved remarkable results in expanding emerging markets. In the first eight months, ASEAN continued to be Guangdong's largest trading partner, with a growth of 3.1%. During the same period, trade with countries participating in the Belt and Road Initiative increased by 3.7%, Latin America by 11.5%, the Middle East by 9.3%, and Africa by 14.2%.

 

It is worth noting that the "new three things" and ships have become new drivers of export growth. In the first eight months, Guangdong's exports of mechanical and electrical products increased by 2.2%, accounting for 65.4% of Guangdong's total foreign trade exports. Among them, the export of electric passenger cars, lithium batteries, and solar cells increased by 5.1 times, 23.3%, and 35.5% respectively; ships increased by 56.6%, and integrated circuits increased by 28.6%. In addition, Guangdong's agricultural product exports increased by 20.5%, among which dried and fresh fruits and alcoholic beverages increased by 29.2% and 27.4% respectively.

 

 

China's photovoltaic exports hit a new record high

 

 

China's photovoltaic product exports have achieved impressive results. Data shows that from January to July 2023, China's photovoltaic product exports reached US$32 billion, an increase of about 6% year-on-year, setting a new historical high.

 

Zhang Sen, secretary-general of the Photovoltaic Branch of the China Chamber of Commerce for Import and Export of Machinery and Electronic Products, predicts that due to the increased demand for photovoltaic installed capacity in Southeast Asia, Europe, the United States, Latin America and other regions, the accelerated overseas layout of enterprises, the shortage of N-type batteries, and the International Energy Agency's substantial upward adjustment of its expectations for global photovoltaic installed capacity, China's photovoltaic product exports in 2023 are expected to be close to US$60 billion, an increase of about 20% year-on-year.

 

 

 

EU officially releases list of alternatives to REACH authorized substances

 

Recently, the European Chemicals Agency (ECHA) published important information on alternatives in authorization dossiers. This initiative aims to help companies achieve the selection of alternatives in REACH authorization requirements and provide valuable reference for chemical companies to achieve the goals of a non-toxic environment and a circular economy.

 

One of the goals of REACH authorization control is to gradually replace substances of high concern with suitable alternatives. According to REACH regulations, all companies applying for authorization need to provide information on potential alternatives to the authorized substances (Annex XIV) they use in their applications. This information will be organized in an "Analysis of Alternatives" (AoA) report and submitted to ECHA as part of the authorization application.

 

This time, ECHA published the data on alternatives in a total of 485 authorization applications received as of June 30, 2023, for the reference and reference of chemical companies. From the data disclosed this time, basic information such as the authorization applicant, the applied substance and the applied use can be consulted, as well as the information on the preferred alternatives and potential alternatives submitted by the applicant, as well as the alternative analysis conclusions made on technical feasibility, economic feasibility, availability and risk reduction.

 

 

(1) For example, 4-(1,1,3,3-tetramethylbutyl)phenol, ethoxylated, also known as Triton X-100, is a widely used non-ionic surfactant with extensive applications in biopharmaceuticals and diagnostic reagents. More than 100 applications for authorization were received this time.

 

Among the alternative options proposed are Tween 20, Tween 80, Tergitol 15-S-9, etc., but their technical feasibility and effectiveness need further investigation.

 

(2) For example, chromium trioxide, whose main uses are surface treatment and functional chromium plating, is one of the substances with the most authorization applications. At the same time, many alternatives have been proposed, such as chromium sulfate, chromium chloride, nickel salts, boric acid, etc., but mature alternatives still require a lot of time, money and R&D efforts.

 

Substitution plans include switching to less harmful chemicals, using alternative technologies or creating different product designs. This is not only an important action for the sustainable development of chemicals, but also a key measure for companies to promote innovation and maintain competitiveness.

 

Technical personnel in chemical companies can make full use of this public information, actively explore alternative options, and contribute to the development and sustainability of the company.

 

*More information on authorization and substitution can be found on the ECHA website.

 

 

South Korea amends the implementation rules of the special law on imported food safety management

 

Recently, the Ministry of Food and Drug Administration (MFDS) of South Korea issued Prime Minister's Decree No. 1896 to revise the implementation rules of the Special Act on Imported Food Safety Management. The rules will be implemented on September 14, 2023. The main revisions are as follows:

 

In order to carry out import declaration business efficiently, for foods with low public health risks and repeated imports, the import declaration can be accepted in an automated manner through the Import Food Comprehensive Information System, and the import declaration confirmation letter can be automatically issued. However, the following situations are excluded: imported foods with additional conditions, imported foods that are conditionally accepted for declaration, first-time imported foods, imported foods that should be inspected according to regulations, etc.;

 

If the local food and drug administration finds that the inspection results are difficult to determine as qualified by automated methods, it shall inspect the imported food in accordance with the provisions of the first paragraph of Article 30. It shall also regularly verify the integrated information system to confirm whether the automatic import declaration is normal;

 

Improve and supplement some deficiencies of the current system, such as relaxing facility standards and allowing housing to be used as offices when conducting e-commerce or mail-order business of imported food.

 

 

Source: Focus Vision, Internet, etc.

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